814 N Martin Luther King Jr Blvd · Lansing, MI 48915

$119,000

7 bd · 1.0 ba · 1,089 sqft · SingleFamily public records · 17 Days on market

Built 1938 7,405 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

Key facts

• Close to freeways
• Newer roof
• 7,405 sq ft lot

Tags

• UPDATED WHITE KITCHEN
• NEWER ROOF
• CLOSE TO FREEWAYS

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 6.0% in Lansing — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#94 in MI, #2,182 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, schools F, crime F.
• Lansing Public School District (urban): math 14% / reading 23% proficiency, ranked #650 of 760 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 67 active listings in the ZIP; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent runs 38% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.46% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.20×
• Total profit: $6,518
• Equity at exit: $17,743

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $39,220
• Equity at exit: $10,289

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48915

• Active inventory: 67
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$294 /mo · $3,528/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $403

Break-even live

Break-even rent $1,225

Max offer price $119,000

Occupancy floor 72%

Sensitivity live

Price	-10% $471	-5% $437	+0% $403	+5% $370	+10% $336
Rent	-10% $266	-5% $335	+0% $403	+5% $472	+10% $540
Rate	-1.0pp $463	-0.5pp $434	base $403	+0.5pp $372	+1.0pp $341

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2024-10-16
   soldstatus $119,000
2. 2024-10-09
   soldstatus $119,000 Sold 364-char remark

   Show marketing remark (364 chars)

   FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

3. 2024-10-09
   soldstatus $119,000 Closed 364-char remark

   Show marketing remark (364 chars)

   FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

4. 2024-10-07
   status Pending
5. 2024-10-07
   historical
6. 2024-10-01
   status Pending 364-char remark

   Show marketing remark (364 chars)

   FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

7. 2024-10-01
   status Pending 364-char remark

   Show marketing remark (364 chars)

   FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

8. 2024-09-20
   listed $119,000 Active
9. 2024-09-20
   listed $119,000
10. 2024-09-11
    price $119,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

11. 2024-09-10
    price $119,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

12. 2024-09-05
    price $125,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

13. 2024-09-05
    price $125,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

14. 2024-08-28
    price $155,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

15. 2024-08-28
    price $155,000 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

16. 2024-08-23
    listed $165,000 Active 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

17. 2024-08-23
    listed $165,000 Active 364-char remark

    Show marketing remark (364 chars)

    FANTASTIC, IMMACULATE, 3 BEDROOM, 1 BATH BEAUTIFULLY UPDATED HOME. AN OPEN FLOOR PLAN WELCOMES YOU SO YOU CAN ENJOY YOUR UPDATED WHITE KITCHEN, ALL APPLIANCES STAY. HARDWOOD FLOORING AND PLANK. NATURAL FIREPLACE FOR THOSE CHILLY NIGHTS. NEWER ROOF AND WINDOWS. 1 CAR GARAGE AND A BASEMENT FOR EXTRA STORAGE. ALMOST 1100 SQUARE FEET. CLOSE TO FREEWAYS AND SHOPPING.

18. 2023-02-06
    soldstatus $95,000
19. 2023-01-13
    soldstatus $95,000
20. 2023-01-13
    soldstatus $95,000 Closed
21. 2022-12-29
    status Pending
22. 2022-12-05
    historical
23. 2022-11-15
    listed $95,900
24. 2022-11-15
    listed $95,900 Active
25. 2008-04-01
    soldstatus $22,000
26. 2007-11-10
    listed $22,000
27. 2007-09-07
    historical
28. 2007-08-17
    listed $49,900
29. 2005-10-11
    soldstatus $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $3,528 · $294/mo
• Projected year-2 tax: $3,528 · $294/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,825
• − Mortgage interest: −$6,666
• − Property taxes: −$3,528
• − Insurance: −$595
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$3,462
• Taxable income: $3,242
• Est. tax owed @ 24.0%: −$778
• After-tax cash flow: $4,062/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lansing Public School District
• NCES district ID: 2621150
• Math proficiency: 14% ▲ 1.00%
• Reading proficiency: 23% ▲ 3.00%
• Median HH income: $37,453
• Composite: 18.76/100
• National rank: #14002
• State rank: #650 of 760 in MI

Livability — Lansing

• Score: 79/100
• State rank: #94
• US rank: #2182

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, MI
• County: Ingham County · 237,052 people
• City population: 161,269
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 9,428
• Household income: $54,465
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 307.0

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Black 24% Two or more races 13% Hispanic / Latino 13%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 7% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.90%
• Current HPI: 177.0906
• Rent YoY: —
• Metro: Lansing-East Lansing, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+48.8% since first listed

29 events — show timeline

• 2024-10-16 Sold (Public Records) $119,000 Public Records
• 2024-10-09 Sold (MLS) $119,000 MiRealSource-MiMLS
• 2024-10-09 Sold (MLS) $119,000 REALCOMP
• 2024-10-07 Pending — Greater Lansing AoR
• 2024-10-07 Listing Removed — REALCOMP
• 2024-10-01 Pending — REALCOMP
• 2024-10-01 Pending — MiRealSource-MiMLS
• 2024-09-20 Listed $119,000 REALCOMP
• 2024-09-20 Listed $119,000 Greater Lansing AoR
• 2024-09-11 Price Changed $119,000 MiRealSource-MiMLS
• 2024-09-10 Price Changed $119,000 REALCOMP
• 2024-09-05 Price Changed $125,000 MiRealSource-MiMLS
• 2024-09-05 Price Changed $125,000 REALCOMP
• 2024-08-28 Price Changed $155,000 MiRealSource-MiMLS
• 2024-08-28 Price Changed $155,000 REALCOMP
• 2024-08-23 Listed $165,000 MiRealSource-MiMLS
• 2024-08-23 Listed $165,000 REALCOMP
• 2023-02-06 Sold (Public Records) $95,000 Public Records
• 2023-01-13 Sold (MLS) $95,000 Greater Lansing AoR
• 2023-01-13 Sold (MLS) $95,000 REALCOMP
• 2022-12-29 Pending — Greater Lansing AoR
• 2022-12-05 Listing Removed — Greater Lansing AoR
• 2022-11-15 Listed $95,900 Greater Lansing AoR
• 2022-11-15 Listed $95,900 REALCOMP
• 2008-04-01 Sold (MLS) $22,000 Greater Lansing AoR
• 2007-11-10 Listed $22,000 Greater Lansing AoR
• 2007-09-07 Listing Removed — Greater Lansing AoR
• 2007-08-17 Listed $49,900 Greater Lansing AoR
• 2005-10-11 Sold (Public Records) $80,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,528 · +35.5% YoY. Source: county tax records.